$TUT This rebound is a textbook case of a pump-and-dump. Every buy made by chasing the rally is essentially paying “exit money” to the people above. In the actively成交ed spot orders, the number of sell orders is three times the number of buy orders. With sell-side orders spread across 20 price tiers, each tier weighing down the market, the buy side can’t possibly take it. This structure cannot hold up any kind of counter-trend bounce. On the valuation side, six days ago it could still prop up a net worth in the hundreds of millions; now it’s down to just around thirty million. Once the cycle peaks, it turns into a downhill run. Every time the rebound pushes up by one more point, it gets lower by one more. There is no road back for this market.